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Egypt needs to promote civil literacy if it ever hopes to develop into a pluralistic, democratic society, Emad Gad writes in a piece for Al Masry Al Youm. Apart from the Al Wafd Party (which is so far past its heyday), political parties in Egypt have come and go over the last several decades but […]
Author Archives: enterpriseam admin
Posted inWorth reading
MENA companies increasing their adoption of AI technology
** #8 Investment in artificial intelligence in the Middle East and Africa are expected to accelerate over the coming years at both private and publicly traded companies, a GCC-focused Microsoft study found, according to the National. According to the report, nearly one third of the Gulf’s largest corporations are set to adopt AI this year […]
Posted inWorth watching
Trump-Kanye West meeting breaks the internet
The Donald invited rapper Kanye West to the White House to discuss — of all things — domestic and foreign policy. Showing up in a red “Make America Great Again” cap, Kanye expressed his strong support for the US president. “When I put this hat on, it made me feel like superman. You made a […]
Posted inDiplomacy + Foreign Trade
Eye on Russia as El Sisi begins three-day visit
Russia is looking to increase its cooperation with Egypt on air travel security, Russian Foreign Minister Sergey Lavrov said in a piece penned for state-run Al Ahram. Lavrov’s words comes as President Abdel Fattah is scheduled to meet with Russian President Vladimir Putin on Wednesday during a state visit to Moscow, according to an announcement […]
Posted inInfrastructure
Government to announce new comprehensive plan for Sinai development in a month’s time
The Madbouly Cabinet is reportedly due to unveil its new comprehensive strategy for development in the Sinai in a months’ time, unnamed Local Development Ministry sources tell Al Shorouk. The new plan — which is being prepared by the ministries of local development, planning, and investment, as well as the New and Urban Communities Authority […]
Posted inBasic Materials + Commodities
Egypt to begin monthly imports of palm oil from Indonesia
An unnamed Egyptian company will begin importing 16k tonnes of palm oil per month from Indonesian government-owned palm oil producer PT Perkebunan Nusantara (PTPN), the company’s deputy CEO tells Al Mal. The executive made no mention of the value of the contract or the delivery schedule.
Posted inManufacturing
Abu Qir looks to invest EGP 3 bn in FY2018-19
Abu Qir Fertilizers & Chemicals Industries is planning to invest EGP 3 bn this fiscal year in several projects, including setting up an acid and nitrates production facility, he company’s chairman and managing director, Saad Ibrahim Abo El-Maati, told Al Mal. The facility will be funded through a loan the company recently received from a […]
Posted inManufacturing
Toshiba-Elaraby JV to raise its manufacturing value to USD 100 mn next year
Japanese electronics producer Toshiba is planning to increase the value of products manufactured by its JV with Elaraby Group, Toshiba El Araby Visual & Appliances Marketing Company (TEVA), to USD 100 mn in 2019, TEVA CEO Daisuki Arahata said yesterday.
Posted inBanking + Finance
MIDOR to finalize this week USD 1.2 bn loan agreement from three EU banks
State-owned company Middle East Oil Refinery (MIDOR) has reached a final agreement with Crédit Agricole and BNP Paribas and Italy’s CDP over a USD 1.2 bn loan to finance the USD 2.2 bn-worth of expansions at its refinery, MIDOR Chairman Mohamed Abdel Aziz tells Al Mal. MIDOR had reached a preliminary agreement for the loan […]
Posted inBanking + Finance
HSBC Egypt launches virtual credits cards for corporate customers
HSBC has added virtual credit card services to the list of digital payment solutions if offers its corporate clients in Egypt, Al Mal reports. The service allows clients to use digital codes provided by the bank to settle their bills and pay suppliers without the need for a physical card.